Banco de Oro raises $120 million from placement

Together with a sale of $150 million worth of shares to IFC and an IFC-linked fund at the same price, the Philippine bank is able to pocket $270 million of fresh capital.

Banco de Oro Unibank BDO, the largest bank in the Philippines in terms of assets, raised $120 million from a share placement late Monday, bringing the total amount of new funds raised to $270 million.

Earlier the same day, the bank announced that it had also sold $150 million worth of shares to the International Finance Corp and a fund founded by IFC and the Japan Bank for International Cooperation. The two transactions were made at the same price,...